Archives: April 2013

New numbers show that in March, U.S. home builders broke ground on new homes at a seasonally adjusted rate of 1.04 million, which is the fastest rate since June 2008. Builders increased their construction pace by 7% in March, up from February. Steady job growth, low mortgage rates, and rising home values have been […]

The average rate on a 30-year fixed mortgage continues to sink towards record lows. The rate fell to 3.4% this week, down from 3.41% for the prior week, according to the Freddie Mac weekly survey. Furthermore, the rate on a 15-year fixed-rate mortgage reached a record low of 2.61%. These low rates continue to have […]

Further evidence that demand in the housing market is rising and inventories are falling: as the market stands, the downtown Raleigh condo market only has a four-month supply of inventory! According to local analyst Hillary Stokes, the market demand is likely to exceed supply in 2013. There were 105 condo sales recorded in downtown Raleigh […]

Building permits in Wake County surged by 70% in March compared to the same month last year. Permits for the first three months of 2013 were up 51%, with over 1,400 permits for new residential units issued, with an average permit value of $214,000. According to the Home Builders’ Association of Raleigh-Wake County, the market […]

Most sellers understand that presenting the very best version of their home is important to getting it sold, but are hesitant to invest money into the process. There are actually many cost-effective ways to revamp and stage your home to give it the boost it needs. Here are some highlights from an excellent article on […]

Bidding wars are back in real estate! In March, 75% of agents with broker Redfin reported that their clients offers were countered with other bids. Agents all over the country are reporting intense competition for prime listings; the recent sale of two condos in Cambridge, Massachusetts prompted bids from over 250 potential buyers. Homebuyers are eager […]

The Lake Benson Boathouse has opened for the 2013 season! Take advantage of the beautiful weather and spend a day at the lake. Although there are no private boats allowed on the lake, you can rent one of their fleet of boats or canoes to the public by the hour or for the whole day. […]

In recent years, homebuyers have had to go through the FHA or the VA to get a mortgage loan with less than 20% as a down payment. It seems that lenders are now thawing to the idea of accepting such mortgages without the backing of a government guarantee. The number of lenders quoting non-FHA loans […]

In the market for a new home? The Johnston County Parade of Homes is being held over the next few weekends: April 13-14, 20-21, and 27-28th. Homes will be open from 10 AM-6 PM on Saturdays and 1 PM-6 PM on Sundays. Members of the Home Builders’ Association from across the county will showcase their […]

The Triangle’s jobless rate fell to 7.5% in February, which is down from 8.1% in January according to the NC Department of Commerce. This is substantially lower than the 8.2% rate reported in February of 2012. The Raleigh-Durham metros added about 19,300 jobs between February of 2012 to February 2013, and added 8,200 jobs in […]